The startup will use the proceeds to build on its technology suite, supply chain infrastructure and for augmenting its team, as per a senior executive at Medikabazaar.
A host of investors are banking on new age startups for bumper returns. The latest funding secured by Amica is backed by a list of institutional investors including Greyhound Capital, 3One4 Capital, Germany’s Rocket Internet and Sequoia Capital.
Jungle Ventures’ latest fund is backed by Cisco Investments, German development finance institution DEG, and Singapore government-backed investment firm Temasek, among others.
Raaga would be a pooled investment vehicle for founding team at Oyo to make collective bets on select startups. The move mirrors previous efforts by India’s top entrepreneurs- including Snapdeal founders- to create separate vehicles for their personal investments.
Entrepreneurs featured in this story are from wide-ranging backgrounds and education.
“Making shared mobility work reliably at scale, while keeping it affordable and convenient, is a massive technology problem. We spent many months building the dynamic routing algorithm,” Gautam Patil, cofounder of Loca, said.
Rivigo works on a relay trucking model that allows drivers to drive for a maximum of four-five hours at a stretch and reach home the same day.
Lead investors Unbound and KCK Global put in $25 million each.
The company to use the proceeds to expand its loan book, bolster its technology and business-focused talent acquisition efforts across geographies.
The latest investment vehicle has been backed by a mix of institutional investors, such as Small Industries Development Bank of India, family offices and technology entrepreneurs.
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